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<br />RATES <br /> <br />All rates and combination of rates must be in integral <br />multiples of 1/20th of l% and may not exceed the maximum <br />statutory rate per annum provided by law. Additional interest <br />coupons may not be used. No limitation is placed on the number <br />of rates which may be used. All bonds of a single maturity <br />shall bear a uniform basic rate of interest from date of issue <br />until paid and the basic rate of interest payable on each bond <br />of the issue must not exceed the basic rate of interest pay- <br />able on other bonds of the same or subsequent maturities. <br /> <br />AWARD <br /> <br />Award will be made on the basis of lowest dollar interest <br />cost, determined by addition of any discount to and deduction <br />of any premium from the total interest on all bonds from their <br />date to their stated maturity. The net effective average <br />rate of the issue may not exceed the maximum statutory rate <br />per annum provided by law. <br /> <br />The issuer reserves the right to reject any and all bids, <br />to waive informalities, and to adjourn .the sale. <br /> <br />Dated: June 23, 1980 <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />James F. Andre <br />City Manager <br /> <br />Additional information may be obtained from: <br /> <br />PETERSON, POPOVICH, KNUTSON & FLYNN <br />314 Minnesota Building <br />St. Paul, Minnesota 5510l <br />Telephone: 1-6l2-222-55l5 <br />